Below is the original image that was used to identify the two volcano varieties. Left is the high volcano variety. Right is the low volcano variety.

The recent auction of the obverse and reverse dies reflect that the volcano is low (original image flipped on the left). The die matches the right image above. Notice the separated clouds and the volcano slope is at the hula girl’s chin.

The low volcano variety was used on the thin medals and gold medals. Below is a gold medal.

I have yet to see a low volcano on a thick medal and gold medal.

What does this mean?

The dies sold on eBay is from the first striking of the thin and gold medals.